So I am stuck at this point. I just built a new computer and this is the parts list:
ASRock P67 EXTREME4 GEN3 LGA 1155 Intel P67 SATA 6Gb/s USB 3.0 ATX Intel Motherboard
Intel Core i5-2500K Sandy Bridge 3.3GHz (3.7GHz Turbo Boost) LGA 1155 95W Quad-Core Desktop Processor
CORSAIR Vengeance 16GB (4 x 4GB) 240-Pin DDR3 SDRAM DDR3 1600 (PC3 12800) Desktop Memory Model
Western Digital Caviar Black WD1002FAEX 1TB 7200 RPM SATA 6.0Gb/s 3.5" Internal Hard Drive
SAPPHIRE Toxic 100312TXSR Radeon HD 6950 2GB 256-bit GDDR5 PCI Express 2.1 x16
OCZ ZX Series 850W Fully-Modular 80PLUS Gold High Performance Power
Anyway when I first put everything together I was running into a hard freeze problem at random times and couldn't even get the OS installed. Eventually the computer would just turn on then turn off right away. I stripped the computer down to just the MB, PSU, and CPU and was still having the issue. I had a spare PSU sitting around which is a 550W and plugged that in. This time everything powered up and worked great. So, I made the guess that the PSU was bad so I RMA'd it. Anyway the other day I started getting the random freeze issue again. I was thinking it was possible the 550W PSU just wasn't cutting it after a while and was causing a power issue again.
The new OCZ ZX 850W came today so I hooked it up and the computer powers up then off, then up, then off....in an infinite loop. I was thinking I got another faulty PSU. Here is the kicker, if I unplug the ATX12V1 CPU 8 pin connector and try to power on it won't do the on off thing. The problem is I obviously need the CPU power connector. I have tried it in the 4 pin configuration as well and that didn't work. I have tried a different cable, the other port on the PSU (it has 2 CPU power connector ports) and that didn't work either. Now I took the PSU and hooked it into another computer. That computer is an old P4, with only the 20 pin ATX, but it still required the 4 pin CPU connector. Now when I hooked the PSU to that computer with the CPU 4 pin connected I heard the system power on and POST successfully. I'm really stumped at this point. As one final note I did hook the 550W back up just to see and the computer powered up just fine, but I'm not sure if the random freeze issue is still happening.
I have also tried tweaking some BIOS voltage settings when I have the 550W hooked up and then switching to the 850W but no go.
So after a great deal of troubleshooting I determined the problem to be a faulty MB. I ended up moving each part to another computer I had and determined the problem either to be the MB or the CPU. I took a shot that it was the MB and ordered a new one. The new one worked great and I am using the new computer right now. Thank you guys for the suggestions.